


Testing a confluence of various support zones. Fundamentals are bullish given current Middle East tensions and Gold providing a safe haven investment but the expected correction may continue if support levels fail
Possible Bullish continuation pattern. Short-term trade possibilities with entries around the boundary. With Gold approaching historical highs, price is very keen to test each previous pivot high presenting many scalping opportunities.
Theoretically a bullish Reversal pattern but could indicate a strong bearish continuation if it fails. Decreasing volatility as EUR news approaches could precede a powerful release of momentum
EURNZD has been on a strong bull run as it approaches making significant yearly highs. Its reaction to breaking through will test if the enthusiasm is backed by continual buying. Conversely, a rejection could lead to a strong bearish reaction in the short term. The presence of 2 consecutive Doji candles indicates a degree of indecision given the lack of committed...
Upcoming AUD news could be the trigger for a breakout from recent consolidation into a Triangle range. Watch how the price responds to the Hourly 200 SMA resistance.
Contracting ranges within a triangular pattern could indicate either a continuation or reversal breakout. First major bearish resistance would be the Hourly 200 SMA, which could be the first target take-profit
NZDUSD has been in a prolonged downtrend. The approaching news might potentially trigger a reversal. Important to be patient and wait for a confirmation of price breaking above resistance.
USDCHF likely to test upper channel before news. There is a Bearish Ascending Flag pattern, which which theoretically indicates the continuation of the larger timeframe bearish trend. If this pattern fails, with price breaking above the upper trendline, it could indicate a bullish trend reversal of the larger timeframe.
Upcoming news likely to create an increase in momentum from the recent consolidation to new value area. Pre-news fake-breaks in the opposite direction possible.
GBP consolidating after a bearish move. Possible Long trade justified by good risk to return with a tight stopLoss
Possible bounce back to previous resistence. Tight Stop-Loss as could crash bearishly through previous pivot low
Some momentum appearing as GBP positions itself prior to upcoming news.
USDX is exhibiting a slowing of short term momentum. It is likely to test support levels to determine market strength and sentiment prior to the upcoming News releases. Failure/Success of these support levels could lead to accelerated moves beforehand.
AUDCAD is exhibiting signs of breaking out of its recent Bearish channel. It is encountering resistance at the 4hr 100 SMA (0.88) It will possibly test the previous upper channel trend line to see if it is provides support or falls below it re-entering the channel to revert to the lower trendline. Upcoming news for both currencies will likely initiate any...
EURZAR has been in a recent range and is now testing the upper trend line. Market possibly pre-empting a negative tone to the South African finance ministers speech on Wednesday. If the breakout is a fake, there is a high likelihood of it revering to the lower level of the Triangular formation.
A quick reversion to the mean trade with an acceptable Risk/Return ratio
NZDCHF has recently broke through the Daily 200 EMA and will likely want to retest it after a recent bullish run. It is experiencing indecision in the 1 and 5min timeframes which often precede a new energetic move. The MACD is also painting a Bearish Divergence indicating a slowing down of momentum.
NZDCAD has been on a bullish run and is exhibiting signs of being excessively overbought despite a decrease in momentum as exhibited via a Bearish Divergence on the MACD indicator. A possibility for quick profits if CAD news is positive. NZD is exhibiting bullish signs in the larger timeframe so be prepared for a strong continuation in this direction even after...